We deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant.

Addosser’s uniqueness is in its very DNA, reflecting our customer centric approach to banking and our continuous quest to push boundaries to increasing access to finance for MSMEs. It is from this core ethos that the bank’s business model is built; enabling us to serve a well- diversified customer base by developing tailored innovative products & services while leveraging our team’s wealth of experience, technology and the synergies of our partners.

Africhange is a cross-border remittance service provider founded in 2020 by immigrants to simplify international money transfers. As a Central Bank of Nigeria (CBN)-licensed International Money Transfer Operator (IMTO), Africhange specializes in facilitating low-cost, secure, and rapid transactions for individuals and businesses. The platform serves over 200,000 users globally and has processed 2+ million transactions across 100+ countries.

Core Services:

● Inward Remittances to Nigeria: Streamlining funds for education, healthcare, and daily expenses.

● Multi-Currency Transfers: Support for CAD, NGN, GBP, AUD, and more.

● Business Solutions: Bulk payments and payroll services for SMEs.

Africhange’s mission is rooted in its immigrant origins, focusing on reducing costs and eliminating intermediaries to ensure more money reaches families.

Who Owns and Operates Africhange?

Africhange was co-founded by David Ajala, a Canadian immigrant of African descent, who recognized the challenges of cross-border remittances firsthand. The company is fully bootstrapped and led by a team with deep expertise in fintech and diaspora financial needs.

Leadership & Partnerships:

● David Ajala (CEO): Advocates for affordable remittances and seamless transactions.

● Tega Gabriel (Head of Growth): Drives partnerships with Nigerian banks and global IMTOs.

● Strategic Collaborations: Partnered with three Nigerian banks and expanding alliances worldwide to enhance service efficiency.

Africhange holds licenses in Canada (FINTRAC), the UK (FCA), and Nigeria (CBN), ensuring compliance with global financial regulations.

How Does Africhange Work?

Sending money with Africhange is simple:

1. Sign Up: Create an account in minutes.

2. Choose Transfer Method:

○ Bank Deposits: Direct to Nigerian accounts.

○ Mobile Wallets: Coming soon to major platforms.

○ Cash Pickup: 5,000+ locations in Nigeria.

3. Track Transfers: Real-time updates via SMS, email, or the app.

Technology Edge:

Africhange uses blockchain mechanics and advanced APIs to reduce processing times and fees, ensuring transfers take minutes, not days.

What Are the Fees and Exchange Rates?

Africhange prioritizes transparency:

Service & Fee:

Bank Transfers: 0.5%–1.5% (lower than traditional banks)

Cash Pickup: Flat $2–$5 fee

Card Transfers: 1% + currency conversion

Exchange Rates:

● Rates are 1–2% above interbank rates, beating competitors like Western Union and MoneyGram.

● No hidden charges—see the total cost upfront.

Promotions: First-time users enjoy zero fees on transfers under $500.

How Fast Are Transfers with Africhange?

Speed varies by method:

● Bank Deposits: 0–24 hours (Nigeria).

● Cash Pickup: Instant at partner locations.

● Card Transfers: 15–30 minutes.

Delays may occur due to recipient bank processing or regulatory checks, but Africhange’s direct partnerships minimize bottlenecks.

Is Africhange Secure and Regulated?

Africhange adheres to strict global standards:

● Encryption: AES-256 for data protection.

● Compliance: Licensed by CBN, FINTRAC, and FCA.

● AML/KYC: Mandatory ID verification to combat fraud.

Funds are held in segregated accounts with partner banks, ensuring safety even during unforeseen events.

Which Countries and Payment Methods Are Supported?

Supported Regions:

● Africa: Nigeria, Kenya, Ghana.

● Americas: Canada, USA (coming soon).

● Europe: UK, EU (launching 2025).

● Asia-Pacific: Australia.

Popular Corridors:

● Canada → Nigeria

● UK → Nigeria

● Australia → Kenya

Payment Options:

● Debit/Credit Cards (Visa, Mastercard).

● Bank Transfers.

● Mobile Money (coming Q2 2025).

Afriex is a leading International Money Transfer Operator (IMTO) revolutionizing cross-border payments for Africans and diaspora communities. Founded in 2019, the platform combines competitive exchange rates, zero transfer fees, and innovative features like multi-currency accounts to simplify global money transfers. With operations in over 32 countries and support for USD, GBP, EUR, and African currencies, Afriex has processed millions of dollars in transactions, empowering freelancers, remote workers, and businesses to manage finances seamlessly.

What is Afriex?

Afriex is a fintech platform enabling instant, low-cost international money transfers and multi-currency financial services. Its mission is to unlock economic opportunities for Africans by providing affordable, accessible, and reliable cross-border payment solutions. The app supports transfers to bank accounts, mobile wallets, and other users in key markets like Nigeria, Ghana, Kenya, Uganda, the US, UK, and Canada.

Core Services:

● Instant transfers with zero fees for most transactions.

● Global Accounts for holding and managing USD, GBP, and EUR funds.

● Competitive exchange rates closer to mid-market rates than traditional banks.

● 24/7 customer support via in-app chat or email.

Who Owns and Operates Afriex?

Afriex was co-founded in 2019 by Tope Alabi (CEO) and Obirije John (CTO), who identified inefficiencies in remittance services while working in the US and Nigeria. Backed by investors like Y Combinator, Sequoia Capital China, and Dragonfly Capital, the startup has raised over $11.3 million to expand its infrastructure and regulatory compliance.

Leadership:

● Tope Alabi (CEO): Drives strategic growth and partnerships.

● Obirije John (CTO): Oversees technical innovation and security protocols.

Regulatory Compliance:

Afriex adheres to FinCEN (US), FCA (UK), and central bank regulations in operating countries. It employs PCI DSS-certified encryption and AML/KYC checks to ensure secure transactions.

How Does Afriex Work?

Sending money via Afriex takes minutes:

1. Sign Up: Download the app and verify your identity.

2. Choose Recipient: Send to a bank account, mobile wallet, or Afriex user.

3. Select Currency: Convert funds at live rates or use a Global Account balance.

4. Track Transfers: Monitor status in real time via the app.

What Are the Fees and Exchange Rates?

Afriex stands out for its zero-fee transfers on most transactions, though small fees apply for cash withdrawals. Exchange rates are updated in real time and are typically 1–2% better than banks or competitors like Western Union.

Loyalty Programs: Frequent users receive priority support and fee waivers for large transactions.

How Fast Are Transfers with Afriex?

● Afriex-to-Afriex: Instant.

● Bank Deposits: 90% complete within 30 minutes.

● Cash Pickup: Available in under 1 hour.

Delays may occur due to recipient bank processing or regulatory checks. For urgent transfers, use debit card funding.

Is Afriex Secure and Regulated?

Afriex uses military-grade encryption, two-factor authentication (2FA), and biometric logins. It complies with:

● AML/KYC Policies: Requires ID verification and BVN (for Nigerian users).

● Global Standards: Registered with the US FinCEN and UK FCA[5][6].

No security breaches have been reported since its launch.

Which Countries and Payment Methods Are

Supported?

Key Corridors:

● US/UK/Canada → Nigeria, Ghana, Kenya, Uganda

● Europe → Nigeria, Kenya

● Intra-Africa transfers.

Payment Methods:

● Debit/credit cards (Visa, Mastercard).

● Bank transfers (ACH, SEPA).

● Mobile money (M-Pesa, Airtel Money).

Afrinvest Asset Management Limited (“AAML”) is a leading independent investment manager in Nigeria. Licensed by the Securities and Exchange Commission (“SEC”) as a portfolio manager, AAML delivers world class asset management services to a range of retail, mass affluent, institutional and HNI clients using dedicated portfolios.

AAML has over 20 years’ experience managing diverse client’s funds/assets through Portfolio/Fund Management, Fund Administration, and Product Development. Through a diversified multi asset class approach, AAML specializes in constructing investment portfolios in accordance with pre-agreed risk-reward criteria. This guides the product development process, with products structured along 4 key focus areas:

AAML plays a critical role in the full cycle of investment collation, consolidation, reconciliation and management of portfolios. Considering that technical analysis remains a valid component of our decision-making process, required to ensure long-term returns, we utilize a proprietary factor model which identifies securities by ranking them based on several key factors. These include fundamentals, technical performance, as well as other qualitative factors such as management pedigree and government policy.

AIICO commenced operations in Nigeria in 1963 as an Agency office of American Life Insurance Company (“ALICO”) – at the time, a subsidiary of American International Group (“AIG”). The Company was incorporated, registered and licensed in Nigeria as American Life Insurance Company Limited – as a wholly owned subsidiary of ALICO/AIG – in 1970 – to offer Life and insurance services. The Company was renamed American International Insurance Company Limited (“AIICO”) upon the acquisition of a 60% stake by the Federal Government of Nigeria, and later listed on the Nigerian Stock Exchange in 1990, after which both shareholders – the Federal Government of Nigeria and AIG divested.

Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT, and one of Nigeria’s most resilient banks. With decades of experience in the business of banking, the Bank has remained innovative in delivering value to its stakeholders. The publicly quoted Nigerian company has successfully built a legacy of trust and resilience that has won it the loyalty of its customers. The Bank is constantly introducing products and services tailored to the needs of its customers at every stage of their lives. It is a proud partner to more than one million individuals, families and businesses across Nigeria, helping them achieve their personal and financial goals.

Read The Wema Bank Review Here

About provider

Established in 2014, Alert Microfinance Bank is a state-licensed financial institution dedicated to providing innovative financial solutions to individuals and businesses.

Alpha Morgan Capital is registered with the Corporate Affairs Commission of Nigeria (RC1049863) and managed by banking professionals with over 52 years of combined experience. Established in 2012 as a Fund Management and Investment Banking outfit, we are registered as a Specialist Dealing Member in FMDQ OTC Securities Exchange.

Alpha Morgan Capital is a member of the Fund Managers Association of Nigeria (FMAN), registered as a fund/portfolio manager with the Securities and Exchange Commission of Nigeria (SEC). 

Anchoria Asset Management (AAM) is incorporated by the Corporate Affairs Commission (CAC) and licensed by the Securities and Exchange Commission (SEC) as a Funds/Portfolio Manager.

We focus on wealth creation and preservation for retail & HNI clients and institutional investors.

Our products include, Fixed Term Investment products, Mutual Funds, Structured products, Fixed Income Trading, Wealth Management and Investment Advisory.

To ensure a profitable investment experience for our clients, we leverage comprehensive strategies and research-driven resources. We are committed to always delivering beyond expectation.

Established in 1994 as an asset management firm, ARM offers wealth creation opportunities through a unique blend of traditional asset management and alternative investment services. We enable businesses to thrive, and help our clients to maximize their returns and realise their most important goals. For over two decades, we have built a firm uniquely equipped to achieve these objectives and our reputation for quality research, investment expertise and value-added services has endeared us to clients both locally and internationally. 

Throughout our history, we have strategically positioned ourselves to take advantage of growth opportunities within Africa and major international markets on behalf of our clients. Our disciplined and consistent approach to investment management has helped us not only to maintain long-term relationships with our clients, but also to continue to attract and retain good people.

At ARM, our people are our most valued asset. The quality of our people is the cornerstone of our ability to serve our clients. For this reason, we invest significantly in identifying exceptional people, developing their skills, and creating an environment that fosters their growth as leaders. We encourage entrepreneurship and innovation at all levels because we believe they are key to developing good quality and committed professionals.

Established in 2023, Auto Bucks has a partnership with Alert Microfinance Bank as its subsidiary (‘’Bank’’)to carry out strictly SME-lending activities to entrepreneurs.